Your Guide to Data Driven Marketing
In these technologically driven times, there’s no excuse for not knowing the who, what, why and how of your customer base. Those days of sending off mass, untargeted broadcasts are long gone. It’s all about personalizing your content based on your data and stages of the marketing campaigns. This is when your Canadian company’s database plays a valuable role.
Business databases are readily available to all marketers but what you do with that matters most. After all, data is just noise unless actually put to use.
What Is Data-Driven Marketing?
As described by NG Data, Data-driven marketing is the process by which marketers glean insights and trends by analyzing company-generated or market data, then translating these insights into actionable decisions informed by the numbers.
Let’s look at the keywords from this definition.
- Insights and trends – without a proper analysis a data is as good as a blank piece of paper. In order to make data-driven decisions, your data should bring to light insights and trends of the market.
- Company Generated or Market Data – You may be capturing data on your own if you have the resources but an alternative is also available in case you don’t have the resources i.e., data readily available in the market. So, there’s really no excuse to not have access to data.
- Actionable Decisions – what is the point of data if it doesn’t play an influential role in your decision making? Data should be studied to drive the marketing decisions of your business.
How to Take a Data-Driven Approach to Marketing
Whether you’ve just started your Ontario company search or are looking to make significant changes to your existing marketing strategy, there are certain elements to consider when you aim to become more data-driven:
- Automation and Integration: Technology can be overwhelming at times especially for those who are averse to change. We know it can overwhelm at first but by creating automated processes with the integration of technology, you can expect to provide better service and personalization.
- Collaboration: Being data-driven involves sharing data across teams and not working in silos as previously. Your business databases and other data available should be accessible to all across departments.
- Monitor Changes: Data-driven marketing is constantly changing and staying up-to-date with industry trends and competitors have become extremely important to help keep your strategy on point.
The Benefits of Data-Driven Marketing
- Data-driven marketing allows you to customize campaigns that help convert prospects to actual leads with the help of a deeper understanding of the customer.
- Data helps marketing focus their efforts which then helps to align goals and objectives throughout the organization.
- Marketers can leverage data to extend its reach across multiple networks, and take communication beyond just email or call by using automated marketing campaigns.
- A better understanding of the target audience results in improved products and service development based on the needs and feedback of the audience.
Like most valuable business strategies, there are challenges to successful data-driven marketing but you can always seek the help you need. Using a Canadian companies database like Scott’s Data you can get access to high-quality reliable data to transform your marketing strategy to be more data-driven!